AMD Shares Jump 3.4% After-Hours; UBS Lifts Target to $670
AMD•AMD rose about 3.4% in after-hours trading on June 24 following Micron’s record $41.46 billion quarterly revenue beat. UBS lifted AMD’s price target from $455 to $670 and projects CPU server revenue of $23 billion in 2027 and $29 billion in 2028, citing core density and multithreading strengths.
1. After-Hours Market Reaction
AMD shares rose about 3.4% in after-hours trading on June 24 following a record $41.46 billion quarterly revenue beat in the memory-chip segment. This uplift helped offset earlier session declines and signaled renewed investor confidence in semiconductor names ahead of AI infrastructure spending.
2. UBS Price Target Upgrade
UBS raised its price target on AMD from $455 to $670, marking a 47% increase on June 24. The firm highlighted AMD’s strong core density, multithreading performance and mature x86 software ecosystem as competitive advantages for standalone AI rack deployments.
3. CPU Revenue Forecast and Outlook
UBS now forecasts AMD’s CPU server revenue will reach $23 billion in fiscal 2027 and $29 billion in 2028 as agentic AI workloads drive demand for high-core-count processors. The outlook suggests AMD is poised to capture significant market share against Intel, shaping growth through the next technology cycle.
